The AES Co. (NYSE:AES) Stake Lifted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its stake in The AES Co. (NYSE:AES) by 33.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 512,723 shares of the utilities provider’s stock after buying an additional 127,850 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in AES were worth $10,284,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in AES by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,694,239 shares of the utilities provider’s stock valued at $134,286,000 after acquiring an additional 82,956 shares in the last quarter. M&G PLC raised its stake in shares of AES by 12.7% during the third quarter. M&G PLC now owns 6,511,760 shares of the utilities provider’s stock valued at $130,235,000 after purchasing an additional 732,457 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in AES by 3.1% in the second quarter. Bank of New York Mellon Corp now owns 4,769,785 shares of the utilities provider’s stock worth $83,805,000 after purchasing an additional 141,565 shares during the period. Empower Advisory Group LLC increased its stake in AES by 5.8% during the 3rd quarter. Empower Advisory Group LLC now owns 3,522,334 shares of the utilities provider’s stock valued at $70,658,000 after buying an additional 193,755 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of AES by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,132,744 shares of the utilities provider’s stock valued at $55,084,000 after acquiring an additional 444,252 shares in the last quarter. Institutional investors own 93.13% of the company’s stock.

AES Price Performance

NYSE AES opened at $13.05 on Wednesday. The company has a debt-to-equity ratio of 3.21, a current ratio of 0.85 and a quick ratio of 0.80. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01. The company has a 50 day simple moving average of $16.11 and a 200-day simple moving average of $17.57. The AES Co. has a 52-week low of $12.53 and a 52-week high of $22.21.

AES (NYSE:AES) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that The AES Co. will post 1.95 earnings per share for the current fiscal year.

AES Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were given a dividend of $0.1725 per share. This represents a $0.69 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Friday, November 1st. AES’s payout ratio is 47.92%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AES shares. Jefferies Financial Group began coverage on AES in a research report on Wednesday, September 11th. They issued a “buy” rating and a $20.00 target price for the company. Evercore ISI raised AES to a “strong-buy” rating in a research note on Wednesday, September 18th. Bank of America started coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 price objective for the company. Barclays raised their target price on shares of AES from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Susquehanna dropped their price target on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AES presently has a consensus rating of “Moderate Buy” and an average target price of $20.22.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.